Article Directory | Free Articles for Reprint!

CTP Green slips, also known as Compulsory Third Party Insurance, give you third party coverage. Before these laws were founded, the person buying car insurance for their car usually would take out an extra insurance for third party liability. Yet, in Australia, this was never a requirement of being insured.

As a result, many felt that innocent victims were left with large, costly bills because the driver of the vehicle chooses not to carry this type of third party insurance product. This altered following a public outrage over a handful of accidents which appeared to acquire extra coverage. Rightly so, the change in the NSW State Government's law, Motor Accident Act 1988, was amended. It now includes a requirement that drivers have compulsory third party insurance for all of their registered vehicles.

Coverage Under General CTP Green Slip Policies:

There are various types of car insurance products on the market, but you cannot escape having CTP Greenslip protection. Nearly all car insurance providers will offer this type of protection along with other car insurance plans such as comprehensive coverage. Under this type of insurance, the driver is protected from any liability of personal injury to anyone that has been hurt due to a motor vehicle collision you have caused or are found responsible for. Should someone be hurt while you are driving and cause their injury, this insurance will cover their personal injury claim against you.

Your CTP Greenslip coverage does not provide any type of insurance protection from damage to property or to the other person's car. It does not provide for any protection for your own medical bills.

CTP Greenslips will cover:

* Other people who are on the road with you that are involved in the accident

* Pedestrians pedal cyclists or others on foot

* The people you have in your vehicle

* Injuries that are caused by your trailer

Questions for Your Provider:

CTP Greenslips are available through a variety of lenders, all of which you should talk to. You will be able to shop around for the right level of insurance protection at the right price. At present, there are 7 providers of insurance which cover CTP Green Slips as necessary by law. This includes:

* AAMI

* Allianz

* CIC Allianz

* GIO

* NRMA

* QBE

* Zurich

The pricing on these plans differs from one insurer to the next, but is depending, at some level, on your own situation. For example, premium prices for CTP Greenslips is set by a combination of factors including your driving and accident record, the age of those people who will drive your car, the type and age of the vehicle you have, the use of your vehicle (private use as compared to business use) as well as if the purchase will be a renewal or new.

Find out from these potential insures how your driving situation compares to the types of insurance they offer.

How to reduce the cost of CTP Green Slip insurance:

Perhaps the best way to get the lowest costing CTP Greenslips possible is to use the Motor Accidents Authority's website where you can use a very helpful calculator. This calculator will take some basic information from you and compute the various quotes from each of the seven insurers. By giving you the lowest price CTP Green Slips possible, this not only saves you time, but money as well.

Additionally, you can phone, and get the individual insurers to give you information on the cover and packages they provide. While more time consuming, this more personal approach will deliver the best results for you in terms of cost.

Additionally, take into consideration your driving habits and your vehicle a well. Realize that your costs may be more if you are a reckless driver, but improving these habits over the long term will get you lower rates.

Beware Before Signing:

Before you sign on the dotted line with any insurer for your CTP Greenslips, do your homework. Read through the contract to know what you are signing and how much it will cost you. Do the figures mirror the quotations you were provided with? Because the government regulates who can provide CTP Greenslips for you, you are likely to have no problem trusting the company, but that doesn't mean you shouldn't take note of the contract's fine details.

Additional Coverage to Consider:

While CTP Greenslips are a very necessary type of insurance coverage for your vehicle (you can't drive or get a registration for your car without it) this is not the only type of insurance that you need to remain safe. Comprehensive insurance is also necessary. It will provide you with protection from loss of your vehicle as well as that of another person you are involved with in an accident.

---

Insurance Compared provides consumers and businesses with explanations and information on most of the different types of CTP Green Slips (3rd party insurance) available today. Insurance Compared is working to take the mystery out of insurance policies and create transparency so that everyone has the right insurance for them (and nothing more). Find out more at => http://www.insurancecompared.com.au/explained/vehicle/ctp.php

Print Article Add Comment